BWS Financial Reaffirms Buy Rating for Adeia (NASDAQ:ADEA)

BWS Financial reissued their buy rating on shares of Adeia (NASDAQ:ADEA) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $16.00 price target on the stock.

Separately, Rosenblatt Securities reiterated a buy rating and issued a $15.00 price target on shares of Adeia in a research report on Thursday, June 20th.

Adeia Stock Performance

Shares of NASDAQ ADEA opened at $11.93 on Thursday. The firm has a 50 day moving average of $11.68 and a 200 day moving average of $11.22. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 35.09 and a beta of 1.46. Adeia has a 12-month low of $8.11 and a 12-month high of $13.39.

Adeia (NASDAQ:ADEA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $87.35 million during the quarter, compared to analyst estimates of $83.74 million. Adeia had a net margin of 12.87% and a return on equity of 33.28%. On average, research analysts anticipate that Adeia will post 1.18 earnings per share for the current year.

Adeia Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, August 27th were given a $0.05 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.68%. Adeia’s payout ratio is currently 58.83%.

Hedge Funds Weigh In On Adeia

Several hedge funds have recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its holdings in shares of Adeia by 0.9% in the second quarter. Wedge Capital Management L L P NC now owns 100,905 shares of the company’s stock worth $1,129,000 after buying an additional 875 shares in the last quarter. Gallacher Capital Management LLC lifted its holdings in shares of Adeia by 5.2% in the second quarter. Gallacher Capital Management LLC now owns 23,803 shares of the company’s stock worth $266,000 after buying an additional 1,186 shares in the last quarter. Texas Permanent School Fund Corp lifted its holdings in shares of Adeia by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 93,797 shares of the company’s stock worth $1,024,000 after buying an additional 1,215 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Adeia by 2.3% in the first quarter. Illinois Municipal Retirement Fund now owns 62,915 shares of the company’s stock worth $687,000 after buying an additional 1,420 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Adeia by 7.4% in the first quarter. ProShare Advisors LLC now owns 21,579 shares of the company’s stock worth $236,000 after buying an additional 1,483 shares in the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

About Adeia

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.